The challenges in managing fruit and vegetable stores are unlike any other. Handling a broad range of inventory that spans from exotic, seasonal produce to everyday ones is not easy. There is plenty of room for produce-related issues to rise to the surface. And the only way to prevent them is with efficient inventory management. The best tool for the job is a supermarket POS & billing software application.
Keep reading to learn the best inventory management habits for improving sales in fruit and vegetable stores. We also touch on the three key objectives of inventory control. Let’s take a look at what they are.
The three key objectives of inventory control
The profit a store generates is directly proportional to its inventory sales. The higher the turnover, the better. It is the aim of every retailer to sell as many possible products in a short duration. That’s easier said than done. The sale of inventory can falter due to many reasons.
And all of them fall under one poor practice. That is shoddy inventory control. Let’s discuss the three key goals of inventory control.
Maintain adequate stock
Store sales plummet when its inventory keeps running out. It also negatively impacts the customer experience. Ensuring that does not happen involves keeping a close watch on stock numbers and setting up a minimum stock threshold. They help replenish products in the store on time. By eliminating the delay in stocking up, stores will have sufficient stock at all times.
Products may be available in abundance in a store. But, its turnover can still be slow. A significant reason for this is the type of inventory the store has. Being in possession of inventory having little to no demand hinders sales prospects. So one of the objectives of inventory control is to procure highly saleable inventory.
The third objective is to reduce the wastage of inventory. It is often the cause of poor storage and arrangement of products in stores. The former leads to quick deterioration of items, especially food items. And the latter case fails to catch the attention of shoppers. Mapping products to appropriate shelves and storage units like freezers help reduce wastage.
Best practices for effectively managing fruit and vegetable inventory
Factor in product level shelf life
Fruits and vegetables have a finite shelf life. They expire quicker than most packed foods, prompting fast sales and inventory replenishment. The type of fruits and vegetables you purchase from vendors is critical. So is the time at which you procure them. They decide how long the items can last in your store.
When you receive grocery items, it helps to note how long they can remain on your shelves before becoming unfit for consumption. Then, place an order for a new batch of fruits and vegetables on the date of the existing batch’s expiry. It prevents your store from running out of stock and keeps your shelves displaying fresh goods at all times.
Dive into store data
Your fruit and vegetable store collects a lot of valuable data over time. Consolidating and analyzing every transaction you make from a macroscopic view reveals critical details about your sales. By diving deep into them, you can:
- Prioritize inventory – Sales data history unveils what grocery items are fast-selling in your store. With that information, prioritizing the purchase of those goods will uphold the satisfaction of your customers.
- Know when customers purchase what – External factors influence customer purchase decisions. For example, people tend to buy a lot of fruits and vegetables during a festival. Recognizing these events allows you to plan store inventory accordingly.
- Curtail waste – Stocking up on produce that doesn’t sell only ends as waste. When this occurs persistently, it can take a toll on your finances. Diving deep into your store data shows the items you can avoid purchasing or cutting down on.
- Forecast sales – Analysis of past transactions can reveal recurring sales patterns. They help forecast sales and better prepare your inventory.
Arrange products according to demand
Where you arrange your products in the store plays a vital role in determining their sales. Stacking fruits and vegetables in high demand at the end of your premises minimizes their selling chances. To facilitate smooth sales, arrange products based on popularity. Take, for example, Halloween. Pumpkins are highly popular on that day. So it is a good idea to display them at the front of the store rather than the back of the store.
Use barcode labels
Keeping track of items in your store can be challenging. From the time you procure goods from distributors, until the time you sell them, it is crucial to keep tabs on them. What helps in this regard is barcode labels.
By printing unique barcode labels and sticking them on products, tracking and billing them becomes a simple task. Doing so eliminates the need to look up product details manually. All you will need to do is scan the barcode, and the computer automatically retrieves the details of the product.
Why invest in a grocery store POS software?
Conventionally, grocery stores resort to paper-based methods or spreadsheet software to oversee inventory. While they can do the job, they are also manually intensive. These management methods curtail the true potential of retail stores. If you’re using such tools to manage inventory, we recommend replacing them with a grocery store POS billing software application.
Now when you decide to purchase a grocery store POS system, you will find a wide range of options in the market. Several vendors offer these applications with different capabilities and pricing. Among them, only a handful of them is reliable. You want a software solution that lasts for at least about five years. It should have cutting-edge features, integrations, and most importantly, be easy to use.
Furthermore, purchasing a cloud-based grocery POS system gives you operational flexibility. It allows you to conduct business portably. Meaning the software will be compatible with devices like smartphones and tablets. And they can integrate with peripheral devices such as barcode scanners and wireless printers. Overall, managing operations over the cloud promotes business continuity during environmental adversities and also lets you carry out retail operations on the go.
If you’re asking yourself what the best POS software for groceries and supermarkets is, it is an application that satisfies the criteria mentioned above. And that is SmartPOS.
SmartPOS is a world-class POS software for fruit and veg stores. It is loaded with a host of industry-leading features for fast and effective retail management. The application is incredibly easy to use and comes with exceptional support. In addition to that, you can access the software from any device that supports a browser, thanks to its cloud compatibility.
Learn more about SmartPOS, its integrations, functionalities, and more by contacting us today. Cut out unnecessary expenses and grow your profits. Easily manage your fruit and vegetable inventory, customers, sales, employees, and a lot more from a single application. Grow your business with SmartPOS – the best supermarket billing software.